Most of my clients are so excited
about getting into a business that they can call their own that they sometimes
neglect having an exit strategy. This was not the case for my featured
entrepreneur this month. He knew from the start that he wanted to run his
business for about 10 years and then sell it to help fund his retirement. It's
now 10 years later and Ron is ready to implement his exit strategy.
Congratulations Ron! Wishing you
a delayed welcome to entrepreneurship and a successful transition into
retirement.
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Ron Hasselbacher
Cartridge World
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I first met Ron Hasselbacher a
little over 10 years ago. He had attended a talk I had given for the Career
Changers Network, part of the local Workforce Development Center. Ron has a B.S.
degree in physics and science and had spent most of his career as a process
engineer and quality manager. He was 55 years old when we met and had been out
of work for about 10 months. This was not the first time he had been downsized,
and was definitely interested in learning about his self-employment options.
Ron is a low key, calm guy. I
asked several times over the years to feature him in my stories of
entrepreneurs, but Ron gracefully declined. He's just not a showy guy. He likes
to do whatever he does well and doesn't look to be in the limelight.
Like many engineering types, Ron
likes to study a lot of information before he makes a decision. He is detail
oriented, likes fixing things and is persistent by nature. He wanted a business
with a product or service that was useful and both ethical and moral. He wanted
to make a difference in the community and be appreciated for what he did. Of
course he also wanted to enjoy what he was doing, be home most nights and
weekends for his family and be able to put money aside for his retirement about
10 years out.
Ron's initial thoughts were along
the lines of a business that did cabinet making, karate studio/instructor,
financial consultant or perhaps a photographer. We worked up the profile of
Ron's ideal business and decided he would initially validate an ink cartridge
refilling franchise which he had recently heard about, a handyman franchise and
a franchise that specializes in refinishing kitchen cabinets and kitchen
remodels.
Ron did an excellent job
validating these businesses. We worked well together. In Ron's words, "Marty
was a great coach. He answered questions, offered thoughtful suggestions, and
held my feet to the fire as needed." While learning and validating these
businesses, Ron took a part time 20 hour per week job to help pay the bills.
Smart move!
As Ron learned about these
businesses, he also learned some things about himself and what he wanted to do
in the business. He decided that the cabinet refinishing business wasn't a good
fit for him because he didn't want to deal with the client's expectations. He
also decided that the handyman franchise wasn't a good fit for him because he
didn't want to deal with the employees, trucks and scheduling issues. He did
like many of the aspects of the cartridge refill business and wanted to learn
more.
Ron concentrated his
investigation on Cartridge World and this is what he had to say. "What
struck me first was the claim that they would save me "up to 50%" on the ink
cartridge I was using to do my printing. Not having heard of Cartridge World I
searched to see if there was one located near my city. There was not. In fact
there was none in the state and only a few in the country. It was an established
franchise business founded in Australia with locations in Canada and Europe. It
opened its first US location in Florida in July of 2003. The business model was
intriguing and just beginning in the US. I continued to investigate Cartridge
World as an option."
Cartridge World is the leader in
remanufacturing and refilling printer cartridges for all major brands including
HP, Dell, Canon, Lexmark and Epson. They refill ink cartridges for most home or
small business printers, whether they are multi-function, color or black and
white. They also remanufacture laser cartridges for most high speed copiers,
full color printers or all-in-one laser printers, fax and copier cartridges.
With 600 stores in North America and 1,700 stores worldwide, they have a 100%
satisfaction guarantee, are environmental responsibility and offer saving of up
to 30% off new. We all know that printer manufacturers make their money on the
replacement cartridges. Cartridge World breaks that cycle.
Ron did decide to open a
Cartridge World franchise and has been successfully operating that store for
almost 10 years. When asked why he selected Cartridge World, this is what he had
to say. "In the end, I selected Cartridge World to pursue for a number of
reasons. While it was new to the US, it was established as a franchise in other
countries for many years. The concept of saving individuals and businesses
substantial amounts of money, I believed, would be widely embraced in my
community. Also, by reusing the customer's cartridge the environmental aspect
would also be appealing. Cartridge World offered a new concept in the market
place that fit my interest in technology and offered a chance to be on the
ground floor of a business segment that had minimal competition."
Ron likes the technical side of
the business and the fact that he can save his customers money. He likes the
people interaction and getting out there and drumming up business. The "green"
side of the business, refilling ink and toner cartridges rather then having them
end up in the landfill is gratifying.
Ron's thoughts after being in
business for nine years: "Cartridge World ownership, for me, has been a
success. I have enjoyed the nine years. In the beginning, there were many hours
and much learning. Conversations with other franchisees, being able to ask or
provide input were invaluable. The fact that Cartridge World was new to the US
had both positive and negative aspects. We were all learning together so there
was not a strict adherence to stated policies. We did what we needed to do to
get things done and put out a quality product.
The aspect of being in retail
that surprised me the most was the interaction with our customers. Coming from
manufacturing management background, I had dealt with subordinates, supervisors,
vendors and government agencies and customers. Initially I had visions of
customers, individual consumers in particular, being hard to deal with. Visions
of irate consumers danced in my head. Very much to my surprise, that was not the
case. Treating people honestly, providing great service and redressing the
inevitable defect in an honorable fashion limited irate customers to a
handful."
Ron contributed more than most to
the writing of his story. The final chapter to his entrepreneurial experience
hasn't been written yet, but Ron is working on that. Ron's thoughts; "My goal
was to start my own business, be successful, and since my ten-year franchise
agreement would put me at 65, sell and move on to enjoy retirement. The first
two have been accomplished. Workin' on the third."
Ron's store is located in
Oshkosh, WI at 1522 S. Koeller Street, Oshkosh, WI 54901. He can also be
reached at 920-230-1522, e-mail - savings@cartridgeworldoshkosh.com. If you are in need of an ink
or toner cartridge for your printer, please stop in a see Ron. He can help you
save up to 50% and you'll be doing your part to help save the environment.
While you're there, look around
the store and determine if you might have an interest in becoming an owner. If
so, talk to Ron about that and then contact me so that I can help you with the
sale procedure and make sure you get all the necessary information. Ron's
transition into retirement just may be the start of your new career. As they
say, when one door closes, another one opens.
Ron was in a career transition when we met. He knew he wanted to run a
business successfully for 10 years and then retire. He had a career plan and an
exit strategy. Like any plan, the key is to implement it successfully. Ron
enjoyed his almost 10 years as a business owner and is now looking forward to
implementing the last stage of his plan. Once that takes place, Ron will move on
to the next stage of his life plan - retirement. Best wishes Ron, for a long and
happy retirement!
Success doesn't happen over
night. It's a process taken one step at a time. Whether you are a corporate
executive, manager, office clerk, mechanic or working mom and if you have a
vision or desire of being your own boss and being self-sufficient, reply back or
give me a call and we'll discuss your life goals and aspirations. Are you ready?
Your comments and feedback
are always appreciated. Wishing you continued success in the future.
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